Kraken parent expands its monetization stock business, and xStocks will cover the Hong Kong, English and Korean stock markets

On 22 July, the Kraken parent company Payward announced that it was expanding its monetized stock platform xStocks, with plans to extend coverage from the United States stock market to Hong Kong, the United Kingdom, the Republic of Korea and other international stock markets. Payward stated that Hong Kong's listed shares are being introduced into xStocks platform in cooperation with GTN, an investment infrastructure provider, and that it plans to support British, European and Korean equities after receiving regulatory approval. In addition, the cooperation provides a basis for the future expansion of other monetized asset classes. According to Payward Global Service Manager Mark Greenberg, other global markets remain important asset classes that have not yet been monetized, and companies want to gradually introduce global capital markets into the chain through xStocks. XStocks used to provide online versions of United States stocks and ETFs, including popular assets such as Inweida, Apple, Tesla. The platform has now supported over 500 tokenized securities, with a cumulative trade of over $35 billion and close to 200,000 holders. The products are still not open to United States users. This expansion is in line with the rise in competition for tokenized securities. Institutions such as Robinwood, Coinbase and NASDAQ, the New York Stock Exchange and others are advancing the chaining of stock assets. Citicorp had previously predicted that by 2030 the size of the monetized securities market could reach $5.5 trillion, of which the monetized stock market was about $2.6 trillion。